CMS Info Systems IPO to open for subscription tomorrow
CMS Info Systems, one of the country’s leading cash management companies, has raised Rs 330 crore from 12 anchor investors ahead of its initial public offering (IPO), which opens for subscription tomorrow, December 21. This offer will close on December. 23.
The company, in a filing with the Bombay Stock Exchange (BSE), said it has finalized the allotment of 1,52,77,777 equity shares to anchor investors at a price of Rs 216 per equity share.
Investors who have invested in the company through anchor book include ICICI Prudential, Nomura India, SBI Mutual Fund, WF Asian Reconnaissance Fund, Aditya Birla Sun Life, Goldman Sachs, SBI Life Insurance, Abakkas Emerging Opportunities Fund, Thalem India Master Fund and BNP. Paribas Arbitrage.
CMS aims to raise Rs 1,100 crore through its public offering. The IPO is purely an offer for sale by the promoter Sion Investment Holdings Pte Ltd, so all money will go to the selling shareholder and the company will not receive any funds from the offer.
The price band for the offer has been fixed at Rs 205-216 per equity share.
The company has reserved half of its offer size for qualified institutional buyers (including anchor investors), 35 percent for retail investors and the rest for non-institutional investors.
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